Industry welcomes Shah despite performance concerns

Shah will take full ownership of the fund on January 1 2008 after a transitional period when he will work with Bolton on the fund. The announcement ends months of uncertainty about Bolton’s replacement although Shah had always been one of the main names in the frame. His appointment has pleased advisers who remember his track record on the UK Aggressive fund from October 2002 to August 2005 when he returned 77.77pc compared with his benchmark return of 49.73pc. However, on the European Aggressive fund, which he has managed from August 2005, Shah’s performance has been less impressive retu...